AmenitiesParks, swimming pools, health-club facilities, party rooms, bike paths, community centers and other enticements offered by builders of planned developments.

American Society of Home InspectorsThe American Society of Home Inspectors is a professional association of independent home inspectors. Phone: (800) 743-2744.

Americans with Disabilities ActA law passed in 1990 that outlaws discrimination against a person with a disability in housing, public accommodations, employment, government services, transportation and telecommunications.

AmortizationThe process of paying the principal and interest on a loan through regularly scheduled installments.

Amortization tablesMathematical tables that lenders use to calculate a borrower's monthly payment.

AmperageThe strength of an electrical current.

Anchor boltA large steel bolt anchored in concrete and attached to a building to prevent the structure from moving.

AnnualAny kind of plant that must be planted every year.

Annual mortgagor statementA yearly statement to borrowers that details the remaining principal and amounts paid for taxes and interest.

Annual Percentage Rate (APR)The cost of the loan expressed as a yearly rate on the balance of the loan.

AnnuityThe payment of a fixed sum to an investor at regular intervals.

Anticipatory breachA communication that informs a party that the obligations of the original contract will not be fulfilled.

ApplicationA document that details a potential borrower's income, debt and other obligations to determine credit worthiness.

Application feeThe fee that a lender charges to process a loan application.

AppraisalAn opinion of the value of a property at a given point in time.

Appraisal feeThe fee that an appraiser charges to estimate the market value of the property.

Appraisal reportA detailed written report on the value of a property based on recent sales of comparable sites in the area.

Appraised valueAn opinion of the current market value of a property.

AppreciationAn increase in the value of a home or other property..

ArbitrationA method of resolving a dispute in which a third party renders a decision.

ArborAn area shaded by trees, shrubs or vines on a latticework structure.

ArchA curved structure that supports weight over an area, such as a doorway.

ArchitectA licensed professional who designs homes, buildings and other structures.

Architectural feesThe fee an architect charges for services. In general, architects charge for their services by the hour, by the square foot, or by a percentage of the project budget.

ArpentA French measurement of land equal to .84625 acres.

AsbestosA fire-resistant mineral used for insulation and home products that has been found to pose a health hazard.

As-is conditionThe purchase or sale of a property in its existing condition.

Asking priceA seller's initial price for a property.

Assessed valueA tax assessor's determination of the value of a home in order to calculate a tax base.

AssessmentThe estimated value of a piece of real estate or a levy placed on property in addition to taxes.

Assessment rollsA list of taxable property compiled by the assessor.

AssetsItems of value which include cash, real estate, securities and investments.

AssignorA person who transfers rights and interests of a property.

Assumable mortgageA mortgage that can be transferred to another borrower.

Assumption clauseA provision that allows a buyer to take responsibility for the mortgage from a seller.

Assumption feeA fee the lender charges to process new records for a buyer who assumes an existing loan.

Average priceThe price of a home determined by totaling the sales prices of all houses sold in an area and dividing that number by the number of homes.

Avigation easementAn easement over private property near an airport that limits the height of structures and trees.